Startups are in a unique position to assert a significant impact on real problems concerning their respective industries. They need to recognize their duty towards bringing their innovations and efficiencies to the fore.
By Sandeep Aggarwal
The world is undergoing a massive entrepreneurial revolution, with new players emerging across different domains almost every day, with something new to offer in their respective markets. In this present-day landscape of constant advancements and nail-biting competition across industries, the innovations that your enterprise comes up with emerge as a game-changer, defining your worth in the market and helping you stay ahead of your contemporaries. Amidst such a scenario, a startup can not only emerge but also sustain and thrive in the ecosystem by adhering to the below-mentioned five Cs for driving key innovations.
One of the most fundamental factors required, not just in terms of innovations but for an enterprise culture shift on a holistic level, is commitment. When it comes to the growth of a startup, nothing less than 100 per cent commitment at all levels works. To foster innovations in such a scenario, an enterprise may invest in and establish a cross-functional team. This would not just help in bringing rich insights from the various domains that each team members specialize in, but will also ensure success in the long run. With a dedicated team staying apace, a startup can tap into a sea of innovations in its business that one could not have imagined otherwise.
As the age old saying goes, “Change is the only constant”, a startup needs to continually evolve their approach in order to foster innovations. By enabling its employees to leverage the opportunities that come their way, an enterprise can provide them with avenues to innovate constantly. Moreover, this will empower the employees with the continuity that they need to achieve the goals that have been set. Constancy may mean different things to different people, but the commonality that remains is stabilization and subsequent evolution. Therefore, by experimenting with approaches and recognizing what works well, a startup can assert a positive impact on all that the innovation teams can deliver.
Being a part of a startup naturally presents challenges and opportunities at several levels. To keep up with the unprecedented pace of innovations, introducing agile methodologies becomes instrumental both for tackling the challenges as well as seizing newer opportunities. For this, the core management needs to ensure that employees have enough headroom for continual learning and growth. Upon understanding the pain-points and scope for improvements, startups can empower their employees with the capacity to enhance the experiences of both their own community as well as their customers.
The revelation does not stop at establishing internal teams for innovation. In order to experience the real momentum of change, startups need to invest in cutting-edge technologies and methodologies to empower their employees. Bringing new technologies like AI, ML, Big Data, etc. it should not remain as a mere idea for novelty, these need to be leveraged to their maximum current potential. This will ensure that the now-equipped team becomes the catalysts of change in the enterprise, sparking insights and innovations to reshape the very way the business is being done.
Startups are in a unique position to assert a significant impact on real problems concerning their respective industries, and they need to recognize their duty towards bringing their innovations and efficiencies to the fore. Therefore, by encouraging and empowering its employees to ‘think big’, an enterprise can have a huge impact through interactions and brainstorming of ideas and innovations. Such a conducive culture does not just benefit the business of a startup but also has the potential to bring about revelations in the industry on a whole.
(Sandeep Aggarwal is Founder & CEO at online automobile marketplace Droom.in. Views expressed are the author’s own.)